AKC
27/02/2015 14:38
GENERAL
PRICE SENSITIVE
REL: 1438 HRS Auckland Council
GENERAL: AKC: Auckland Council considers retail bond issue
Media Release
27 February 2015
Auckland Council considers retail bond issue
Auckland Council is considering an offer of fixed-rate secured bonds to the
public in New Zealand and institutional investors.
The bonds are expected to have a term of 5.5 years and will form part of the
council's overall borrowing programme, with proceeds being used for the
general purposes of the council, including refinancing maturing debt and
funding investment in projects across the region.
The offer will be made in accordance with the Financial Markets Conduct Act
2013 as an offer of debt securities of the same class as quoted debt
securities. The bonds are expected to be quoted on the NZX Debt Market*. It
is expected that full details of the bond issue will be released prior to the
offer opening, which is expected to be in the week beginning 9 March 2015.
The council has appointed ANZ, BNZ, CBA and Westpac as Joint Lead Managers in
relation to the bond offer.
Ratepayers and other investors can register their interest with one of the
Joint Lead Managers (details below) or a financial advisor.
Indications of interest will not involve an obligation or commitment of any
kind. No money is currently being sought and no applications for the bonds
will be accepted or money received until the offer opens and the investor has
received a copy of the offer document in relation to the bonds.
* Application has been made to NZX Limited for permission to quote the bonds
on the NZX Debt Market and all the requirements of NZX relating to that
application that can be complied with on or before the date of this
announcement have been duly complied with. However, NZX accepts no
responsibility for any statement in this announcement. NZX is a licensed
market operator, and the NZX Debt Market is a licensed market under the
Financial Markets Conduct Act 2013.
Joint Lead Managers:
ANZ Bank New Zealand Limited 0800 269 476
Bank of New Zealand 0800 284 017
Commonwealth Bank of Australia
0800 272 633
Westpac Banking Corporation 0800 942 822
Ends
For media assistance, please contact:
John Bishop
Treasurer, Auckland Council
Phone 09 301 0101
End CA:00261281 For:AKC Type:GENERAL Time:2015-02-27 14:38:13
